| Commentary

Section Section 1159(2)

| Commentary

Section 1159

A company is a ‘wholly-owned subsidiary’ of another company if it has no members except that other and that other’s wholly-owned subsidiaries or persons acting on behalf of that other or its wholly-owned subsidiaries.

Schedule 6


  1. 1

        The provisions of this Part of this Schedule explain expressions used in section 1159 (meaning of ‘subsidiary’ etc) and otherwise supplement that section.

Voting rights in a company

  1. 2

        In section 1159(1)(a) and (c) the references to the voting rights in a company are to the rights conferred on shareholders in respect of their shares or, in the case of a company

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